If anyone is planning to trade ETH, buy ETH or hodl ETH. Now is the time to do it. I have given some reasons in my past posts, but let me break it down briefly here.
Technically:
- We have broken both downward trendlines . Everything is pointing up. Once the weekly MACD crosses to the upside, everything will be in conjunction for a push to the upside.
- ETH/BTC 6.47% gain today is oversold and rebounding which will help ETH/USD
The upgrade to ETH is also coming which will also drive it higher. Bakkt, ETH futures , etc...
We are breaking my first identified area of 200-205 and have almost confirmed the break out. A confirmed close will indicate a move to $230 and from there we will start jumping up.
If you are trading, utilize the resistance zones I have outlined to look for exit points and buy points. I am holding until my major exit point of the 500 point area, and then I will be looking to get out and re-enter.
